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Print - 2007-09-19
Commerzbank fears higher subprime losses

Commerzbank fears higher subprime losses

Commerzbank is bracing itself for a higher-than-predicted loss from investments related to risky US mortgages that is set to knock a hole in profits, sources familiar with the matter told Reuters.
Published 19 Sep, 2007 12:00am
PSIC board meeting today

PSIC board meeting today

The meeting of the board of directors (BoD) of Punjab Small Industries Corporation (PSIC) will be held here on September 19. Punjab Minister for Industries Muhammad Ajmal Cheema will chair the meeting, which will review the performance of the corporation,
Published 19 Sep, 2007 12:00am
ADB economic outlook 2007: Pakistan economy seen keeping growth momentum

ADB economic outlook 2007: Pakistan economy seen keeping growth momentum

On the basis of strong demand, bolstered by increased private and public investment, the Pakistan economy is seen keeping most of its momentum and achieving 6.5 percent growth in FY2008, said Asian Development Outlook 2007 Update, released by Asian Develo
Published 19 Sep, 2007 12:00am
NDMA to identify disaster vulnerable areas

NDMA to identify disaster vulnerable areas

National Disaster Management Authority (NDMA) would prepare an atlas for identifying the areas vulnerable to natural disasters in the country. "A five-year plan has been chalked out to cope with the challenges posed by the natural disasters and preparatio
Published 19 Sep, 2007 12:00am
Pakistan recognised as champion economy in WEF

Pakistan recognised as champion economy in WEF

Pakistan has been recognised as "champion economy" in the just concluded annual meeting of the "new champions" organised by World Economic Forum (WEF) in Dalian, a coastal city in Northeast China's Liaoning Province.
Published 19 Sep, 2007 12:00am
Nadra collects Rs 2.4 billion utility bills through Kiosks

Nadra collects Rs 2.4 billion utility bills through Kiosks

As many as three million various utility bills worth Rs 2.4 billion have so far been paid through the National Database and Registration Authority (Nadra) bill payment machine (Kiosks) during the last 10 months, a Nadra official said here on Tuesday.
Published 19 Sep, 2007 12:00am
French embassy holds photo exhibition

French embassy holds photo exhibition

An exhibition of rare photos and documents describing 60 years diplomatic relations between Pakistan and France was held here at French Embassy. Foreign Minister Khurshid M. Kasuri was the chief guest on the occasion, who was received by the French Ambass
Published 19 Sep, 2007 12:00am
USC foils wheat hoarders' plan: managing director

USC foils wheat hoarders' plan: managing director

Utility Stores Corporation Managing Director Brigadier Hafeez Ahmed has said that at some stores located in the urban areas extraordinary rush was witnessed due to price hike of flour in the open market. Talking in a PTV programme he said that Utility Sto
Published 19 Sep, 2007 12:00am
Growth in beggary: result of flawed policies

Growth in beggary: result of flawed policies

Dr Kaiser Bengali is usually bitter about the economic policies of the government. Talking to PPI, he fired another salvo by saying that growing beggary in the country was the direct result of flawed economic policies of the present regime that had failed
Published 19 Sep, 2007 12:00am
Election rule amendment

Election rule amendment

On the face of it, some legal merit underscores the decision of the Election Commission of Pakistan to exempt presidential candidates from the scope of Article 63. This constitutional provision essentially spells out a list of disqualifications applicable
Published 19 Sep, 2007 12:00am
Islamic Banking in Pakistan: past, present and future outlook - I

Islamic Banking in Pakistan: past, present and future outlook - I

Text of the speech of the Governor, State Bank of Pakistan, delivered at the inauguration of Asia Finance Conference series III titled: 'Islamic Financial Services' in Karachi on 11th September. Islamic finance has gripped the world with a strong fervour
Published 19 Sep, 2007 12:00am
Good Morning: The political disquiet of Ramazan 2007

Good Morning: The political disquiet of Ramazan 2007

Karachi has that typical tranquil Ramazan quiet that descends in the holy month each year. Even a spiritual silence that is both eloquent and contemplative. It is multidimensional too. Ramazan touches the individual from within, and even those who are not
Published 19 Sep, 2007 12:00am
Testing people's memory

Testing people's memory

Twice former Prime Ministers Mohtarma Benazir Bhutto and Mian Nawaz Sharif are hitting the headlines in the print and electronic media for some days. The industrialist turned politician from Lahore is keen to return home.
Published 19 Sep, 2007 12:00am
Technical fault

Technical fault

I want to draw the attention of the engineers of Pakistan Steel Mills Ltd and the concerned authorities who have designed and constructed a giant bridge towards the "underpass passage" for incoming traffic from downtown city for Dawood Chowrangi and Landh
Published 19 Sep, 2007 12:00am
Samsung unveils its innovative products

Samsung unveils its innovative products

Samsung Electronics Co, Ltd, a global leader in consumer electronics and digital technology, unveiled its innovative products based on digital technology and imaginative ideas at Gitex 2007.
Published 19 Sep, 2007 12:00am
US MIDDAY: gold futures plunge

US MIDDAY: gold futures plunge

US gold futures fell slightly early on Tuesday after surging to 16-month highs in overnight trading, as investors took a breather following the previous session's gains and ahead of expected interest-rate cut expected from the Federal Reserve later in the
Published 19 Sep, 2007 12:00am
US MIDDAY: copper eases

US MIDDAY: copper eases

US copper futures drifted down at the open on Tuesday, with activity restrained before a US Federal Reserve decision on interest rates, due after the market's close, traders said.
Published 19 Sep, 2007 12:00am
US MIDDAY: soyabean up

US MIDDAY: soyabean up

Chicago Board of Trade soyabean futures were called to open 4 to 6 cents per bushel higher on Tuesday on follow-through technical buying after contract highs were notched overnight, traders said. The strength in the soya products added to the bullish sent
Published 19 Sep, 2007 12:00am
US MIDDAY: corn steadies

US MIDDAY: corn steadies

Chicago Board of Trade corn futures were called to open steady on Tuesday, mostly on spillover support from strong gains in wheat and soybeans. Farmers are poised to harvest a record crop this year, forecast at 13.308 billion bushels by the USDA in Septem
Published 19 Sep, 2007 12:00am
US MIDDAY: wheat drops

US MIDDAY: wheat drops

Chicago Board of Trade wheat futures slipped on profit-taking after a firm open on Tuesday, traders said. Traders took profits after the overnight rally on a smaller Australian crop estimate issued by the government agency ABARE.
Published 19 Sep, 2007 12:00am
European gold eases after hitting 16-month high

European gold eases after hitting 16-month high

Gold slipped in late business on Tuesday as investors took profits from 16-month highs, but sentiment stayed bullish ahead of an expected rate cut by the US Federal Reserve. The Fed is expected to slash its benchmark 5.25 percent fed funds rate by at leas
Published 19 Sep, 2007 12:00am
Copper steadies, aluminium hits 18-month low

Copper steadies, aluminium hits 18-month low

Copper prices held firm on Tuesday as markets awaited a decision on interest rates from the US Federal Reserve, while aluminium hit an 18-month low on worries about falling demand from the United States.
Published 19 Sep, 2007 12:00am
New York cotton settles at fresh 1-1/2 month high

New York cotton settles at fresh 1-1/2 month high

Cotton futures settled Tuesday at a fresh 1-1/2 month high on sustained speculative fund buying, but the rally is seen running out of steam because it is overdone, brokers said. ICE Futures open-outcry December cotton contract gained 0.42 cent to conclude
Published 19 Sep, 2007 12:00am
Rwanda miller to increase sugar output by 25 percent

Rwanda miller to increase sugar output by 25 percent

Rwanda's sole sugar miller plans to increase production by 25 percent to 15,000 tonnes in 2008, to beat an emerging deficit in the local market, the mill's manager said on Tuesday. The Kabuye Sugar Works owned by the Madhvani Group currently produces 12,0
Published 19 Sep, 2007 12:00am
London coffee plummets; sugar and cocoa steady

London coffee plummets; sugar and cocoa steady

London robusta coffee futures fell sharply on Tuesday on arbitrage selling with the November contract under pressure after its recent steep climb, dealers said. Cocoa and white sugar futures were little changed. "I think a lot of what has happened today h
Published 19 Sep, 2007 12:00am
Billions more dollars headed for commodities: AIG

Billions more dollars headed for commodities: AIG

Money is still flooding into commodities investments to diversify portfolios despite financial market turmoil, and more pension funds are looking at commodity investments, especially in southern Europe.
Published 19 Sep, 2007 12:00am
Low production costs key as uranium price seen softening

Low production costs key as uranium price seen softening

Low production costs are the key to success as the uranium price is seen softening after 2014, chief executive Bill Boberg of UR-Energy said in an interview on Monday. "We will have a production cost, operating cost, of less than $25 a pound," he told Reu
Published 19 Sep, 2007 12:00am
FTSE rises on Northern Rock, Lehman Brothers earnings

FTSE rises on Northern Rock, Lehman Brothers earnings

Britain's top share index rose on Tuesday after the UK government guaranteed all deposits held by troubled Northern Rock, and US bank Lehman Brothers posted better-than-expected third quarter earnings.
Published 19 Sep, 2007 12:00am
Thai shares close marginally lower

Thai shares close marginally lower

Thai share prices closed marginally lower on Tuesday as investors stayed on the sidelines ahead of a key United States interest rate decision, dealers said. The Stock Exchange of Thailand (SET) composite index slipped 0.11 points to 802.54 and the blue ch
Published 19 Sep, 2007 12:00am
Bonds: calm returns to credit spreads

Bonds: calm returns to credit spreads

Reassuring results from US investment bank Lehman Brothers and easing concerns about liquidity woes at Northern Rock and other banks helped push European credit spreads tighter on Tuesday. Anticipation of an interest rate cut from the US Federal Reserve l
Published 19 Sep, 2007 12:00am
Bonds: calm returns to credit spreads

Bonds: calm returns to credit spreads

Reassuring results from US investment bank Lehman Brothers and easing concerns about liquidity woes at Northern Rock and other banks helped push European credit spreads tighter on Tuesday. Anticipation of an interest rate cut from the US Federal Reserve l
Published 19 Sep, 2007 12:00am
Indian rupee moves up

Indian rupee moves up

The Indian rupee reversed early losses and crept higher on Tuesday as a strong rise in local stocks raised hopes that foreign capital inflows will hold up in coming months despite global credit market problems. Investors also bought the rupee on expectati
Published 19 Sep, 2007 12:00am
Dollar steadies versus euro in London

Dollar steadies versus euro in London

The dollar steadied above last week's record lows versus the euro on Tuesday as investors chose to hold fire ahead of a widely-expected Federal Reserve interest rate cut.
Published 19 Sep, 2007 12:00am
Sterling hits fresh lows

Sterling hits fresh lows

Sterling hit a one-year low against a basket of currencies for the second day on Tuesday as lingering concerns on the state of the UK banking sector led investors to shy away from relatively risky carry trades.
Published 19 Sep, 2007 12:00am
'China, Russia spying at Cold War levels'

'China, Russia spying at Cold War levels'

Chinese and Russian espionage operations against the United States are nearing the level of the covert spying duels of the Cold War, the top US intelligence officer warned Tuesday.
Published 19 Sep, 2007 12:00am
Egypt and Iran to hold talks on renewing ties

Egypt and Iran to hold talks on renewing ties

Egypt and Iran will hold talks at the ministerial level with the aim of renewing full diplomatic relations that have been frozen since 1980, the Egyptian foreign ministry said on Tuesday.
Published 19 Sep, 2007 12:00am
Israeli soldier, Palestinian killed

Israeli soldier, Palestinian killed

An Israeli soldier and a teenage Palestinian militant were killed during a major Israeli incursion into a refugee camp in the northern occupied West Bank on Tuesday, officials said.
Published 19 Sep, 2007 12:00am
Maoists quit government in blow to Nepal peace pact

Maoists quit government in blow to Nepal peace pact

Maoists stormed out of Nepal's government and vowed to disrupt upcoming elections Tuesday after other parties refused to bow to the ex-rebels' demand for the monarchy to be immediately abolished.
Published 19 Sep, 2007 12:00am
Zimbabwe opposition, government reach deal on elections

Zimbabwe opposition, government reach deal on elections

Zimbabwe's main opposition party reached an agreement Tuesday with the government on the adoption of a bill which paves the way for joint presidential and legislative elections next year.
Published 19 Sep, 2007 12:00am
Veteran Fukuda on course to be Japan's next Prime Minister

Veteran Fukuda on course to be Japan's next Prime Minister

Ruling party veteran Yasuo Fukuda edged closer to victory in the race to become Japan's next leader Tuesday as a poll showed strong voter support, but rival Taro Aso vowed to fight on until the end. Parliament is set to appoint a successor to Prime Minist
Published 19 Sep, 2007 12:00am
Hundreds of monks protest across Myanmar

Hundreds of monks protest across Myanmar

Hundreds of monks on Tuesday marched peacefully in Yangon and towns across Myanmar, defying the military regime and chanting Buddhist prayers in the biggest anti-junta rally in a decade.
Published 19 Sep, 2007 12:00am
Russia, China alarmed by French comments on Iran

Russia, China alarmed by French comments on Iran

Russia and China expressed alarm on Tuesday over comments by France's foreign minister raising the spectre of war with Iran, and Washington said diplomacy was key to ending a stand-off with Tehran over its nuclear programme.
Published 19 Sep, 2007 12:00am
Two kidnappers among 14 killed in Afghanistan

Two kidnappers among 14 killed in Afghanistan

Afghan and US-led coalition forces killed 12 Taliban fighters on Tuesday, including two militant leaders involved in the kidnap of 23 South Koreans in July, a provincial police chief said.
Published 19 Sep, 2007 12:00am
Government rejects preconditions for Taliban talks

Government rejects preconditions for Taliban talks

The Afghan government is ready for peace talks with the Taliban, but will not accept preconditions demanded by the Islamist rebels such as the withdrawal of all foreign troops, a presidential spokesman said on Tuesday.
Published 19 Sep, 2007 12:00am
Most Americans think Bush doing a bad job: survey

Most Americans think Bush doing a bad job: survey

Two-thirds of Americans feel President George W. Bush is doing a bad job at running the United States, a survey published Tuesday showed. But although 67 percent of the 1,000 people polled earlier this month by Harris Interactive gave a negative assessmen
Published 19 Sep, 2007 12:00am
UAE and North Korea establish diplomatic ties

UAE and North Korea establish diplomatic ties

The oil-rich United Arab Emirates announced on Tuesday it has established diplomatic ties with North Korea at the level of ambassadors. Abu Dhabi and Pyongyang "signed a joint statement on the establishment of diplomatic relations at ambassador level" dur
Published 19 Sep, 2007 12:00am
West must back Mbeki mediation in Zimbabwe

West must back Mbeki mediation in Zimbabwe

Western powers should back South African mediation as the only real chance of stopping Zimbabwe's collapse, an influential think-tank said on Tuesday. The Brussels-based International Crisis Group (ICG) said Western sanctions had failed and attacks on Pre
Published 19 Sep, 2007 12:00am
Pope visit to US in spring may help heal wounds

Pope visit to US in spring may help heal wounds

Pope Benedict will make his first trip to the United States next spring in a visit that will likely try to heal some of the wounds caused by recent sexual abuse scandals. The Pope will visit New York and several other cities in the East, Vatican sources s
Published 19 Sep, 2007 12:00am
Nobel Peace Prize could go to a climate campaigner

Nobel Peace Prize could go to a climate campaigner

The 2007 Nobel Peace Prize could go to a climate campaigner such as ex-US Vice-President Al Gore or Inuit activist Sheila Watt-Cloutier, reinforcing a view that global warming is a threat to world security, experts say.
Published 19 Sep, 2007 12:00am
US in no rush to attack Iran - for now

US in no rush to attack Iran - for now

Despite blunt French talk of possible war with Iran, the United States may for the moment be too entangled in Iraq to turn from diplomatic to military action to curb Tehran's nuclear and regional ambitions.
Published 19 Sep, 2007 12:00am
Sarkozy vows swift pensions reform

Sarkozy vows swift pensions reform

President Nicolas Sarkozy vowed to overhaul France's creaking social security system on Tuesday, but said he would consult unions to stave off the sort of mass protests that have sunk previous governments' reform attempts.
Published 19 Sep, 2007 12:00am
Pakistan stun Australia

Pakistan stun Australia

Captain Shoaib Malik and Misbah-ul Haq put on a century partnership as Pakistan stunned Australia by six wickets in the Twenty20 world championships here on Tuesday.
Published 19 Sep, 2007 12:00am
Pakistan stun Australia

Pakistan stun Australia

Captain Shoaib Malik and Misbah-ul Haq put on a century partnership as Pakistan stunned Australia by six wickets in the Twenty20 world championships here on Tuesday.
Published 19 Sep, 2007 12:00am
New Zealand repulse England challenge

New Zealand repulse England challenge

England lost three wickets in the space of five balls as New Zealand won a tense World Twenty20 Super Eights match by five runs at Kingsmead on Tuesday. The defeat probably ensured that New Zealand would reach the semi-finals while England faced almost ce
Published 19 Sep, 2007 12:00am
Hewitt unhappy with 'dodgy' Serb court

Hewitt unhappy with 'dodgy' Serb court

Former world number one Lleyton Hewitt on Tuesday slammed as "dodgy" the court on which Australia will face Serbia in a crucial Davis Cup World Group play-off here later this week. "It's pretty dodgy at the moment. It's pretty soft under foot a lot of it
Published 19 Sep, 2007 12:00am
Hingis races into China Open second round

Hingis races into China Open second round

Former world number one Martina Hingis made up for lost time when she finally got on court at the China Open on Tuesday, sweeping past local hope Sun Tiantian 6-2 6-3 in less than an hour.
Published 19 Sep, 2007 12:00am
Collingwood apologises for lap dance club visit

Collingwood apologises for lap dance club visit

England captain Paul Collingwood has apologised to the England team management for visiting a Cape Town lap dancing club on Saturday night. The Sun reported on Tuesday that Collingwood had made a "midnight visit" to the club.
Published 19 Sep, 2007 12:00am
Dhoni named ODI series skipper

Dhoni named ODI series skipper

Mahendra Singh Dhoni on Tuesday was named India's new cricket captain for upcoming one-day home series against formidable sides Australia and Pakistan as the selectors looked to the future.
Published 19 Sep, 2007 12:00am
Swiss franc firms against euro and dollar

Swiss franc firms against euro and dollar

The Swiss franc firmed against the euro and the dollar as investors braced for a decision from the Federal Reserve later on Tuesday with expectations running high that it would cut rates.
Published 19 Sep, 2007 12:00am
Asian currencies trapped by doubts on Fed rate cut

Asian currencies trapped by doubts on Fed rate cut

Asian currencies were little changed on Tuesday as investors debated about the extent and impact of a possible US rate cut when the Federal Reserve meets later in the day.
Published 19 Sep, 2007 12:00am
Australian dollar shaken by credit jitters

Australian dollar shaken by credit jitters

The Australian dollar took a spill in volatile trade on Tuesday as deepening credit concerns triggered a fresh exodus from riskier bets in high-yielding currencies.
Published 19 Sep, 2007 12:00am
Sterling dips below $2 in New York

Sterling dips below $2 in New York

Sterling fell below $2 for the first time this month on Monday as thousands of depositors pulled money from UK lender Northern Rock, but the dollar was slightly weaker against most other currencies ahead of an expected US interest rate cut.
Published 19 Sep, 2007 12:00am
Dollar and Pound struggle in Asia

Dollar and Pound struggle in Asia

Credit market jitters and fears of a deeper US growth slowdown kept the dollar and sterling struggling on Tuesday, as players awaited the Federal Reserve's decision later in the session with expectations for a rate cut.
Published 19 Sep, 2007 12:00am
Yuan soft, central bank acts to cool speculation

Yuan soft, central bank acts to cool speculation

The yuan closed a pip lower against the dollar on Tuesday as the central bank required Chinese banks to increase their dollar holdings to help cool growing speculation about faster yuan appreciation, dealers said.
Published 19 Sep, 2007 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Tuesday. 68.71/68.71 (previous 68.70/68.71). Call Money Rates: 6.50-10.00 percent (previous 6.50-10.00 percent.
Published 19 Sep, 2007 12:00am
Singapore shares close flat

Singapore shares close flat

Singapore share prices closed flat on Tuesday in cautious trade ahead of a key United States Federal Reserve policy meeting, dealers said. They said the Fed was widely expected to cut interest rates to cushion the world's largest economy from a housing sl
Published 19 Sep, 2007 12:00am
Malaysian shares fall

Malaysian shares fall

Malaysian share prices closed 0.1 percent lower on Tuesday in cautious trade ahead of a key United States interest rate decision, dealers said. They said record high oil price also had a negative impact on sentiment.
Published 19 Sep, 2007 12:00am
Nikkei tumbles two percent

Nikkei tumbles two percent

Japan's Nikkei stock average tumbled 2 percent on Tuesday as banks suffered their biggest one-day fall in more than three years after problems at a British mortgage lender renewed concerns over global credit markets.
Published 19 Sep, 2007 12:00am
Jakarta shares finish firmer

Jakarta shares finish firmer

Indonesian share prices ended on Tuesday 0.8 percent higher in light trading as players stayed on the sidelines awaiting the outcome of a meeting of the US Federal Reserve policy meeting, dealers said.
Published 19 Sep, 2007 12:00am
Philippines shares drop

Philippines shares drop

Philippines share prices closed 0.5 percent lower on Tuesday as investors took profits, staying cautious just ahead of the United States Federal Reserve's decision on interest rates, dealers said. The spike in crude oil prices to a record peak above 81 do
Published 19 Sep, 2007 12:00am
Indian shares gain

Indian shares gain

Indian share prices rose 1.06 percent on Tuesday ahead of a US Federal Reserve meeting to review interest rates, dealers said. They said banking, consumer goods and oil stocks gained. The benchmark 30-share Mumbai stock exchange Sensex index rose 164.69 p
Published 19 Sep, 2007 12:00am
US Treasury debt prices ease

US Treasury debt prices ease

US Treasury debt prices eased on Monday as investors pared bets for a more aggressive interest rate cut from the Federal Reserve absent any further deterioration in the economy.
Published 19 Sep, 2007 12:00am
US Treasury debt prices ease

US Treasury debt prices ease

US Treasury debt prices eased on Monday as investors pared bets for a more aggressive interest rate cut from the Federal Reserve absent any further deterioration in the economy.
Published 19 Sep, 2007 12:00am
US stocks end down as credit worries spread

US stocks end down as credit worries spread

US stocks dropped on Monday, led by financial shares, as a rush by savers to withdraw deposits at a large British mortgage lender fuelled concerns that turmoil in the credit markets would spread. Lines of angry customers outside branches of Britain's Nort
Published 19 Sep, 2007 12:00am
Hong Kong blue chips decline

Hong Kong blue chips decline

Hong Kong blue chips eased 0.09 percent on Tuesday, tracking weak global equities, as caution ahead of a Federal Reserve rate-setting meeting prompted some investors to lock in profits in recent gainers.
Published 19 Sep, 2007 12:00am
Chinese stocks end mixed

Chinese stocks end mixed

Chinese stocks were mixed on Tuesday as strength in non-ferrous metals and second-tier industrial stocks offset a weak property sector, which was hurt by news of fresh official measures to cool the property market.
Published 19 Sep, 2007 12:00am
China's top firms face increased risks: S&P

China's top firms face increased risks: S&P

China's top companies will likely see a slowdown in breakneck growth over the next 18 months, under pressure from the US economy and concerns over the "Made in China" tag, Standard & Poor's said Tuesday.
Published 19 Sep, 2007 12:00am
Mexico private spending up 4.6 percent in second quarter

Mexico private spending up 4.6 percent in second quarter

Mexican private spending rose 4.6 percent in the second quarter compared with the year-ago period, the finance ministry said on Monday. Aggregate demand - which includes private and government demand, gross fixed investment and exports - was up 4.2 percen
Published 19 Sep, 2007 12:00am
Palestinian economy remains crippled: World Bank

Palestinian economy remains crippled: World Bank

The Palestinian economy remains crippled seven years after the outbreak of the intifada and needs 1.62 billion dollars in annual foreign aid to close the deficit, the World Bank said in a report obtained by AFP on Tuesday.
Published 19 Sep, 2007 12:00am
US chief executive officers trim outlook amid turmoil

US chief executive officers trim outlook amid turmoil

The top executives of America's largest companies have grown more cautious about the economic outlook, according to a survey released on Monday by the Business Roundtable, but they still expect growth despite the turmoil in the world's credit markets and
Published 19 Sep, 2007 12:00am
China paper urges tougher stock market oversight

China paper urges tougher stock market oversight

China's regulators need to crack down on stock market misbehaviour to avoid market turbulence striking the real economy, a researcher wrote in Monday's overseas edition of the People's Daily. The overseas edition of the ruling Communist Party's official p
Published 19 Sep, 2007 12:00am
US household wealth rises to $57.86 trillion in second quarter

US household wealth rises to $57.86 trillion in second quarter

The net wealth of US households rose to $57.86 trillion in the second quarter of 2007, as financial asset gains outpaced slowing increases in real estate values, the Federal Reserve said on Monday. In its quarterly "Flow of Funds" report, the Fed said US
Published 19 Sep, 2007 12:00am
Romania may meet plans to sell debts: minister

Romania may meet plans to sell debts: minister

Romania may still meet its 2007 plans to sell debt worth 12 billion lei ($5 billion) despite recent attempts to cut back on issuance to help ease pressure on yields, a senior official said on Monday.
Published 19 Sep, 2007 12:00am
More discounting likely in tight money market

More discounting likely in tight money market

A shortage of funds in interbank money market on Tuesday forced the banks to borrow heavily from the central bank (State Bank of Pakistan) discount window for the second consecutive day. Dealers said that with no cash inflows scheduled this week and fund
Published 19 Sep, 2007 12:00am
New York cocoa ends firm

New York cocoa ends firm

US open-outcry cocoa ended firm on Monday, after touching a one-month high on technical support while some speculators kept buying on talk about concern for the upcoming main crop out of West Africa, traders said. "I think it's more technical than anythin
Published 19 Sep, 2007 12:00am
More discounting likely in tight money market

More discounting likely in tight money market

A shortage of funds in interbank money market on Tuesday forced the banks to borrow heavily from the central bank (State Bank of Pakistan) discount window for the second consecutive day. Dealers said that with no cash inflows scheduled this week and fund
Published 19 Sep, 2007 12:00am
Asian naphtha: prices jump to highest since mid-July

Asian naphtha: prices jump to highest since mid-July

Asia naphtha's outright prices soared on Tuesday to their highest since mid-July, on surging oil prices that hit a record above $81 a barrel, but the premium against Brent crude fell on weak physical market.
Published 19 Sep, 2007 12:00am
More discounting likely in tight money market

More discounting likely in tight money market

A shortage of funds in interbank money market on Tuesday forced the banks to borrow heavily from the central bank (State Bank of Pakistan) discount window for the second consecutive day. Dealers said that with no cash inflows scheduled this week and fund
Published 19 Sep, 2007 12:00am
Australian wool indicator rises

Australian wool indicator rises

The Australian Wool Exchange (AWEX) said its eastern market indicator (EMI) rose by 14 cents to 930 cents a kilogram clean on Tuesday. Of the 12,307 bales on offer, 711 were passed in. Sales resume in Newcastle, Melbourne and Fremantle on Wednesday.
Published 19 Sep, 2007 12:00am
New York coffee ends at 8-1/2-month high

New York coffee ends at 8-1/2-month high

ICE arabica coffee trading in the pit finished sharply higher at an 8-1/2-month high on Monday, on fund short covering and new buying unmatched by origin selling, traders said.
Published 19 Sep, 2007 12:00am
Mills find cotton prices favourable, continue buying

Mills find cotton prices favourable, continue buying

Firm trend was witnessed on cotton market on Tuesday as mills continued forward buying due to prevailing levels were matching with export parity, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 2800, dealers said.
Published 19 Sep, 2007 12:00am
Modalities finalised for crushing season

Modalities finalised for crushing season

The government and the Pakistan Sugar Mills Association (PSMA) on Tuesday finalised the modalities for crushing season 2007-08, accepting each other's major demands. The government agreed that Trading Corporation of Pakistan (TCP) will buy 0.4 million ton
Published 19 Sep, 2007 12:00am
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